July 26, 2023
NAB Consumer Insights Survey: Financial Hardship – Q2 2023
Who is struggling and what are the key drivers?
- Over 4 in 10 (43%) Australians experienced some form of financial hardship in Q2, and is now up from 29% in early-2022 amid rising inflation and higher interest rates.
- Money is “very much” a source of stress for 1 in 3 Australians, and 1 in 4 are struggling “very much” to make ends meet.
- New research suggests 3 in 10 Australians do “not at all” feel they could manage a major unexpected expense, and 1 in 5 do “not at all” feel on top of their day to day finances, or believe they are on track to have enough money to provide for their financial needs in the future.
For further details, please see the Financial Hardship Report (Q2 2023)